Canging of the Guard of Gold?

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Canging of the Guard of Gold?

Post by Admin on Sat Mar 07, 2015 10:55 am

Yesterday, Andrew Maguire announced that the LBMA will be closing all of their gold vaults.

http://kingworldnews.com/andrew-maguire-smashed-gold-today-hsbc-shocks-clients-closing-london-gold-vaults/

In the same article, he also made a passing note as to why it was closing, which was due to a new kind of exchange that was going to open, which would be a direct competitor to the LBMA. So if this new, not yet opened, exchange is so powerful that the LBMA is closing before the competition even starts, I think that is saying something. What, I am not sure.

Is it good, or is it bad? Probably both I think.

The LBMA is controlled. It is leveraged with paper IOU's that far exceed actual gold available. So if this new exchange (which from my understanding cannot be leveraged), poses a threat to the old LBMA's way of doing business, then will the LBMA be forced to pay cash - freshly printed I might add - when the paper IOU's cannot be fulfilled with physical gold? And if that is the case, what will happen with the price of gold? It could go up if people are smart enough to realize that they have been hoodwinked all these years, or The Powers That Be (TPTB) might use their massive propaganda arm to continue to mislead the masses with little to no ill effect on their end, and the price of gold stays artificially low.

For me, none of the above matters very much. If the LBMA is closing their vaults, where is the gold going? HSBC controls the Spyder (GLD) Trust Fund of physical gold. But that gold supposedly resides in the soon to close LBMA vaults. What is to come of it? What about the other hundreds, nay thousands, of tons of physical gold that the LBMA vaults are supposed to hold?

Realistically, when you "close" a vault, you are supposed to deliver the physical goods contained therein to the rightful owners. Have you ever heard of a bank that "closes" the vault (meaning: they stop conducting business), and leaves all of the cash and bonds, and contents of safety deposit boxes locked inside? I have not. So where is that gold going? If the Federal Reserve bank cannot deliver a few hundred tons of gold to Germany in anything less than seven years, how is it that the LBMA can deliver thousands of tons in a couple of weeks to thousands of customers?

They cannot!

Something big is happening. What exactly I do not know. But as this starts to unwind over the next several months, I am left to wonder if this will be for the better or worse, or if they are simply changing the guard, only to continue the paper gold ponzi scheme as they have been for the past several decades. Or worse yet, they are literally stealing all of that gold, to be paid for with freshly created digital fiat currency which will soon become worthless compared to the physical gold they have stolen from the rightful owners.

I know what I believe.

Get the real stuff while you still can!

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Re: Canging of the Guard of Gold?

Post by Texas Patriot on Sat Mar 07, 2015 12:00 pm

Any idea how this will effect the silver market?

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Re: Canging of the Guard of Gold?

Post by Admin on Sat Mar 07, 2015 12:06 pm

Texas Patriot wrote:Any idea how this will effect the silver market?

From everything I can tell, silver and gold go hand-in-hand. One follows the other (to a point.)

Mathematically, silver is trading 7-10x lower than it should (or gold is trading 7-10x higher than it should; you be the judge.)

My personal belief is that silver should be trading at a minimum of 9:1 with gold since that is how it exists in the earth, yet it exists physically above earth at something closer to 4:1. Throughout most of history, except for the last 40-years, silver has traditionally traded at an average of 15:1. It is currently trading in excess of 70:1.

I hope that helps.
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Re: Canging of the Guard of Gold?

Post by Texas Patriot on Sat Mar 07, 2015 12:18 pm

Gold is out of my reach for now so silver is my poor mans gold.
The way I see it, its still better than paper.

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Re: Canging of the Guard of Gold?

Post by Ranger on Sat Mar 07, 2015 4:00 pm

I will be buying a little more silver to dollar cost average my silver purchases made several years ago.

Supposedly the stock market is predicted to do well through most this year, but be prepared for major loses to follow in 2016 and possibly the end of 2015.
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Re: Canging of the Guard of Gold?

Post by doc g on Mon Mar 09, 2015 9:51 am

I do silver as well due to the cost. I am upside down on most of it, but should do well when and if it corrects to a realistic number.

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Re: Canging of the Guard of Gold?

Post by Texas Patriot on Mon Mar 09, 2015 7:39 pm

I understand. Bought mine when it was at about $30 an ounce. I figure I haven't lost anything though unless I sell it and todays prices.

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Re: Canging of the Guard of Gold?

Post by doc g on Mon Mar 09, 2015 7:58 pm

TP, I have it from 16 to 41, was under my last 16 price yesterday. Time will tell. I can tell you for sure, feel a lot better about have metal stored rather than paper.

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Re: Canging of the Guard of Gold?

Post by Texas Patriot on Mon Mar 09, 2015 8:10 pm

I agree. I bought it to have something to rebuild with later after our paper is useless.

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